KARACHI:
Accelerating digital financial inclusion to document and stabilise Pakistan’s economy is a must. As a citizen closely observing our financial developments, I see a clear need to reduce our heavy reliance on cash transactions.
A large part of our population, especially those living in rural areas, remains completely unbanked, which limits the growth of small businesses. High transaction fees on mobile wallets and a general mistrust of digital platforms slow down the adoption of modern electronic payment systems. The State Bank should work closely with commercial banks to eliminate hidden charges on basic digital micro-transactions. Launching targeted digital financial literacy campaigns in regional languages can help build trust and encourage rural merchants to adopt cashless business models.
Modernising our transactional systems will improve transparency, boost tax revenues and provide minor entrepreneurs with easier access to formal credit.
Usama
Sargodha
